Once you’re under contract with the seller, loan underwriters typically need additional documentation to complete the mortgage process. The underwriters’ responsibility is to confirm that the borrower(s) and home meet all guidelines. Any additional documentation needed by our underwriting team will be added to your to-do list in your Paddio account.
A credit check provides the necessary information to ensure we can approve the home loan. Credit reports give lenders a complete picture of a borrower’s ability to manage debt, including any existing debt or open lines of credit.
Whether you’re looking to reduce your interest rate, lower your monthly payments, pay your mortgage off faster or leverage the equity in your home, it’s a good idea to speak with a loan officer. Everyone’s situation and goals are unique, and Paddio’s team is trained to advise you on the best path forward, even if that means you shouldn’t refinance.